From KPMG to Aurtus: Chartered Accountant and KPMG Partner Builds Boutique Tax Firm with Customized Approach

Vishal Gada started his career as a Chartered Accountant in 2002 at an erstwhile articles firm in Mumbai, specializing in statutory audit. After two years in audits, he realized that his actual interest was in international tax, and hence, he joined PwC’s tax division.

He lasted only 16 months in his first job due to a challenging senior. This led him to join the tax team at Ratan S. Mama, which he still considers the best team he has ever worked with. Eventually, the firm sold its practice to PwC, bringing him back to his former employer.

He continued at PwC from 2007 to 2010, but everything changed after the Satyam accounting scandal. Many of his mentors and bosses left for KPMG, and shortly after, he too followed them. At KPMG, he was tasked with significant projects to establish their Ahmedabad office.

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Eventually, he became a partner at KPMG in Mumbai. Even as a partner, he felt something was missing. When the tax leader vacated his office and some people followed him, Dhruva was born.

Launching a Boutique Tax Firm

Vishal Gada worked for six years at Dhruva, but unfortunately, the original co-founders and senior members departed after a few years. That’s when he proposed the idea of starting a new firm, and senior members Rutul Shah, Zeel Jambuwala, and Jay Parmar came on board.

His decision to enter entrepreneurship was influenced by several factors:

• The growth of the tax market, which was dominated by the Big 6, leaving space for their firm to make an impact.
• After 12 years in the field, he was ready to create a firm with a flexible approach.
• Their goal was to become one of the top 10-12 tax firms outside the Big 4.

In 2020, they launched Aurtus, a full-service boutique firm that provided well-researched tax, transaction, and regulatory services.

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Services at Aurtus

Aurtus collaborates with trusted valuation partners to handle valuations. It combines 8 to 9 businesses in one place.

• M&A Tax: Assists clients with the tax implications of mergers and acquisitions.
• Corporate and International Tax: Their foundational service offers strategic tax advice across corporate and international tax matters.
• Litigation: Various leaders from prestigious law firms have joined Aurtus, which comprehensively covers complex litigation matters.
• Regulatory Services: Includes advisory on FEMA, RBI, and SEBI compliance, helping clients navigate India’s regulatory landscape effectively.
• GIFT City Advisor: Focuses on establishing funds and family offices for international clients in GIFT City and also supports Indian entities with global expansion plans, etc.

Expansion Plans

Aurtus intends to expand globally, with plans for branches in countries such as:

• Singapore: Aurtus has already established an office in Singapore with over 20 team members, some of whom are based in India.
• UAE: Aurtus’s expansion to Dubai is on the horizon, completing its triangular access between India, Dubai, and Singapore.
• USA: Aurtus aims to enter the US market eventually.

Clients’ Perception of Tax Consultation at Non-Big 4 Firms

Clients prefer boutique firms for personalized, high-quality advice. In tax consulting, a firm’s size doesn’t matter as much now, as clients are more mature and understand that boutique firms focus on building one-to-one relationships. Hence, the opportunity for such firms is huge.

Source Credits: The Finance Story [https://thefinancestory.com/how-ex-kpmg-partner-found-own-boutique-tax-firm]

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